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Press Releases

Corindus Announces Partnership with WakeMed Health & Hospitals

March 15, 2017

Leading cardiovascular hospital to develop vascular robotics program, improve patient care using the CorPath® GRX System

WALTHAM, Mass.--(BUSINESS WIRE)-- Corindus Vascular Robotics, Inc. (NYSE MKT: CVRS) today announced that WakeMed Health & Hospitals will partner with Corindus to develop a national center of excellence to advance patient care and clinical robotics research and to train interventional cardiologists on robotic-assisted percutaneous coronary interventions ("PCI") using the CorPath GRX System. WakeMed Health & Hospitals is the leading provider of health and cardiovascular services in Wake County, North Carolina.

"I am proud to be part of a health system that represents the best training, the latest technologies and the highest commitment to patient care, safety and innovation," said Frances O. Wood, M.D., FACC, interventional cardiologist and co-director of Structural Heart at WakeMed Heart Center. "CorPath GRX will transform the way we perform PCI, improving care and quality of life for our patients. I look forward to partnering with Corindus to build best-in-class medical education to train physicians and staff, to advance the body of clinical research on robotics, and to help shape the robotic system of the future."

WakeMed Health & Hospitals purchased three CorPath GRX Systems to develop a vascular robotics program. The CorPath GRX System is designed to treat patients undergoing PCI and builds on the CorPath platform with the addition of important key features that increase precision, improve workflow, and extend the capabilities and range of procedures that can be performed robotically. In addition, the System protects physicians and staff from the occupational hazards of working with radiation exposure in the cath lab.

Mark J. Toland, President and CEO of Corindus, stated, "Our top priority is to provide the best care possible for patients through precision medicine while protecting the physicians performing these life-saving procedures. Our partnership with leading clinical facilities such as the WakeMed Heart Center can accelerate the research, education and adoption of this important technology in cath labs across the United States."

About Corindus Vascular Robotics, Inc.

Corindus Vascular Robotics, Inc. is a global technology leader in robotic-assisted vascular interventions. The company's CorPath® System is the first FDA-cleared medical device to bring robotic precision to percutaneous coronary interventions. During the procedure, the interventional cardiologist sits at a radiation-shielded workstation to advance guide catheters, stents, and guidewires with millimeter-by-millimeter precision. The workstation allows the physician greater control and the freedom from wearing heavy lead protective equipment that causes musculoskeletal injuries. With the CorPath System, Corindus Vascular Robotics brings robotic precision to interventional procedures to help optimize clinical outcomes and minimize the costs associated with complications of improper stent placement during manual procedures. Corindus stands behind its product with its unique $1,000 hospital credit "One Stent Program." For additional information, visit www.corindus.com, and follow @CorindusInc.

About WakeMed Health & Hospitals

Serving the community since 1961, WakeMed Health & Hospitals is a nationally recognized, private, not-for-profit health care organization founded and based in Raleigh, N.C. The largest health system in Wake County, WakeMed exists to improve the health and well-being of its community by providing outstanding, compassionate, patient- and family-centered care to all. The 919-bed system comprises a network of facilities throughout the Triangle area, delivering health and wellness services that bring added value to the communities it serves. WakeMed is a leader in cardiac and vascular care, women’s and children’s services, emergency medicine and trauma care, physical rehabilitation, orthopaedics and neurosciences. Specialty facilities include the WakeMed Heart Center, Children’s Hospital, Women’s Pavilion and Birthplace, Women’s Hospital at WakeMed North, WakeMed Rehabilitation Hospital, Adult and Children’s Emergency Departments and a Level 1 Trauma Center. WakeMed’s team of more than 8,800 employees, 1,500 volunteers, 1,200 affiliated physicians, and the more than 280 physicians employed by WakeMed Physician Practices, use the most advanced technologies along with the best minds and the biggest hearts to ensure the finest quality in health care and community health. For more information, visit www.wakemed.org.

Forward Looking Statements

Statements made in this release that are not statements of historical or current facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Corindus to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements in the conditional or future tenses or that includes terms such as "believes," "belief," "expects," "estimates," "intends," "anticipates" or "plans" to be uncertain and forward-looking. Forward-looking statements may include comments as to Corindus’ beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside Corindus’ control.

Examples of such statements are that:

  • CorPath will transform the way that PCI is performed and
  • partnerships with leading clinical facilities such as the WakeMed Heart Center can accelerate the research, education and adoption of this important technology in cath labs across the United States.

Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are described in the sections titled "Risk Factors" in the company's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as reports on Form 8-K, including, but not limited to the following: the rate of adoption of our CorPath System and the rate of use of our cassettes; risks associated with market acceptance, including pricing and reimbursement; our ability to enforce our intellectual property rights; our need for additional funds to support our operations; our ability to manage expenses and cash flow; factors relating to engineering, regulatory, manufacturing, sales and customer service challenges; potential safety and regulatory issues that could slow or suspend our sales; and the effect of credit, financial and economic conditions on capital spending by our potential customers. Forward looking statements speak only as of the date they are made. Corindus undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date. More information is available on Corindus' website at http://www.corindus.com.

Source: Corindus Vascular Robotics, Inc.

Corindus Vascular Robotics, Inc.

Media:

Kate Stanton, 508-653-3335 ext. 200

kate.stanton@corindus.com

or

Investor:

Lynn Pieper Lewis, 415-937-5402

ir@corindus.com

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Scott Madden
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